Coinbase and StraitsX Partner to Bring Singapore Dollar Stablecoin XSGD to Global Users
Stablecoin Adoption Beyond USD
XSGD offers a one-to-one digital representation of the Singapore dollar, creating an alternative to USD-based stablecoins and enabling local businesses and individuals to transact in their home currency. According to Coinbase, the integration of XSGD will empower entrepreneurs, investors, and consumers to participate in quicker, cheaper, and more compliant transactions, while mitigating foreign platform risks in a multi-currency environment:contentReference[oaicite:1]{index=1}.
Through the partnership, Coinbase and StraitsX will also establish liquidity pools that enable users to platform stablecoins across global currency corridors. The rollout includes the issuance of XSGD on Base, Coinbase’s low-cost ETH Layer 2 chain, bringing on-chain FX transactions to a wider audience via decentralized platforms (DEXs). An XSGD/USDC pool on Aerodrome will further drive adoption with liquidity incentives supported by both Aerodrome and the Base ecosystem:contentReference[oaicite:2]{index=2}.
XSGD’s on-chain utility will power use cases from AI agent interactions to purchasing digital art and real-world asset NFTs, expanding Singapore’s digital economy footprint:contentReference[oaicite:3]{index=3}.
Trusted Infrastructure and Regulation
Both Coinbase and StraitsX are fully regulated in Singapore, with each holding a Major Payment Institution license. This dual recognition underscores Singapore’s position as a innovation. The companies emphasized that the partnership is not only about enabling payments but also about setting the stage for future regulated digital asset answers:contentReference[oaicite:4]{index=4}.
“Stablecoins are redefining how borders. With XSGD live on Coinbase Singapore, we’re one step closer to making local and cross-border payments instant and accessible to everyone with a phone and wallet,” said Hassan Ahmed, Country Director of Coinbase Singapore:contentReference[oaicite:5]{index=5}.
StraitsX CEO & Co-Founder Tianwei Liu added: “The launch of XSGD on Coinbase is a large step forward, not just for Singapore, but for the entire digital asset ecosystem. By enabling seamless, direct access to local currency stablecoins, we are breaking down the USD-centric barriers that have long limited on-chain FX markets”:contentReference[oaicite:6]{index=6}.
Looking Ahead
The Coinbase–StraitsX partnership is expected to deliver new products and services in the coming months, expanding use cases for SGD stablecoins and advancing Singapore’s leadership in digital finance. With this move, both firms signal their commitment to building a truly multi-currency and frictionless global financial system:contentReference[oaicite:7]{index=7}.
Key Takeaways
- Coinbase integrates XSGD, the first MAS-recognized SGD stablecoin, into its global platform.
- XSGD launches on Coinbase and Base with liquidity incentives via Aerodrome, enabling on-chain FX.
- The partnership advances Singapore’s position as a leader in adoption.
